Obama stomps on economy revival

President Barack Obama says that he won’t stand for oil companies making large profits while people are paying over $4 a gallon for gas — even though his energy secretary, Steven Chu said three years ago, “Somehow we have to figure out how to boost the price of gasoline to the levels in Europe.”

Obama doesn’t realize that a corporation is not a person. He was raised with a Marxist ideology that says “down with capitalism.” But, corporate stocks and profits belong to people who depend on them for their IRAs and retirement income.

The oil corporations would like to use some of their profits to expand their business by drilling here, creating jobs at home and avoiding paying unfriendly countries for our much-needed oil. But the administration, while talking about jobs, acts by not issuing permits or by finding frivolous environmental objections.

Also, Obama wants the rich to pay more taxes. He doesn’t realize that the rich do not put their money in mattresses, but invest it in growing businesses or in expanding their own small businesses, thus directly creating jobs.

Letting corporations and the rich invest their money is far more effective in creating jobs than the government collecting the money and doling it out.

There is an enormous cost involved when money passes through government bureaucracies. Further waste occurs when funds are deployed for political purposes and with little oversight.

A case in point is the almost $1 trillion spent for “shovel ready” jobs, some of which didn’t exist, but helped Obama’s army of union supporters, and put our grandchildren in debt bondage to the government and to the Chinese.

The sooner this administration and its retrogressive socialist appointees are out, the sooner this nation will start to recover its former greatness. We’ve had enough of a government that promotes its objectives by demonizing business and prolonging crises.